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An option is for you, your business, or your family to set up a Prescribed Private Fund, a recent initiative of the Federal Government to assist Philanthropic Giving.
This involves setting up a trust, with a lump sum donation, which is then invested. The income from the investment can then be received by mecwacare in perpetuity, as the beneficiary. The Trust can be in you or your family’s name and lives on forever. It can also be in the name of a Corporate entity.
The amount of the lump sum or Corpus is tax deductible and can be established over 5 years. This option is suitable for larger donations.
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